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13 January 2009

7 January was the 7th day of the seventh month of the 3rd year of Canadian national consciousness rising to invincibility, as indicated by the following press reports:

7 January 2009

The Canadian Economic Press - Canadians worried about economy, but not their own finances, poll finds (7 January 2009) The annual Financial Outlook Survey performed by POLLARA for the Economic Club of Canada found that, of the 2,670 Canadians surveyed 11-15 Dec., 91% feel the economy is in a recession. But POLLARA chairman Michael Marzolini said that Canadians don't seem to think they will be affected personally by the downturn. The most recent survey reveals more respondents than a year ago feel their family income will keep pace with living costs in the coming year. There were 4% more respondents in the new survey (41%) expecting to keep pace with living costs. And the number of respondents expecting the new year to bring a worse financial situation is down 2% to 48% from the last survey.

The Globe and Mail - Corporate credit enjoying 'a feel-good factor' (7 January 2009) Corporate credit markets are beginning 2009 with their biggest rally in months, easing the pressure on everyone from central bankers and bank chiefs to borrowers. The cost of protecting U.S. and Canadian corporate bonds from default, a measure of fear about credit risk in North America, fell Wednesday to the lowest in eight weeks. A similar index that tracks concern about 14 of the world's largest financial institutions, including Bank of America and Citigroup, is also at its lowest level in two months, while a closely watched measure of the cost of interbank lending hit its lowest point since before the September failure of Lehman Brothers shook markets. The vast improvement in credit markets in recent weeks will make it easier for companies to borrow. That should help the main goal of policy makers: Persuading investors and banks to start lending more to help restart economic growth. 'There's certainly a feel-good factor about credit at the moment,' said Suki Mann, a credit strategist with Societe Generale in London. The improved sentiment, along with the fact that many investors are sitting on a lot of cash, offers a chance for some corporate borrowers to sell bonds. On a broader scale, there's growing confidence that the plans of governments to restore order to lending and the economy are beginning to bear fruit.

The Canadian Economic Press - Canadian consumer bankruptcies down in November (7 January 2009) According to the Office of the Superintendent of Bankruptcy Canada, 8,163 individuals filed for bankruptcy during November, down 9% from October. During November, 2,426 individuals filed proposals to reorganize their financial affairs and avoid bankruptcy. That number was down 3.4% from October. Meanwhile, 99 businesses filed proposals in November, a drop of 26.1% from October and down 14.7% from November, 2007.

The Globe and Mail - Business bankruptcies fall in November (7 January 2009) Business bankruptcies fell by 4 per cent year-over-year in November (506 in November, down from 527 a year earlier). 'Businesses are still in fairly good shape in Canada . . . so it's not surprising business bankruptcies remain quite low —so far,' Sal Guatieri, a senior economist with the Bank of Montreal, said. He noted that the number of bankruptcies was relatively low, but 'appear fairly consistent with what we have seen to date in the Canadian economy . . . .'

Reuters Canada - Canada 2009 house sales seen falling, rebounding (6 January 2009) Royal LePage, Canada's biggest residential real estate agent, expects weakness in the housing market to continue through the first half of the year before the market rebounds. A rebound in consumer confidence, historically low interest rates, and improving credit markets will help the housing market bounce back, Royal LePage said. Prices in pockets of the country will likely rise moderately this year, the company said. It forecasts average Regina home prices to rise 6 per cent this year, while it sees Winnipeg prices climbing 4 per cent.

From a CBC News report on this: The markets in Montreal, Ottawa, and Edmonton are expected to remain stable, with relatively flat prices. Halifax should see prices edge up 1 per cent.

From a Canadian Press report on this: Overall, Royal LePage sees 'only modest price and unit sales corrections'. In spite of the cooling on a national level, price and activity gains are still anticipated in some provinces, the report added.

The Ottawa Business Journal - Ottawa housing prices to hold steady (6 January 2009) Ottawa's housing market will hold steady in 2009, says a report by Royal LePage. The report said strong job security and strengthening consumer confidence will continue to stimulate the real estate market, adding that Ottawa's market has not seen extreme price fluctuations. 'Instead, the city maintains slow and steady price appreciations, leading to a more sustainable trend line, positioning Ottawa to outperform other markets in 2009,' read the report.

The Regina Leader-Post - Record year for home sales (6 January 2009) Regina's residential real estate market set two new records in 2008. According to the Association of Regina Realtors, sales dollar volume was at an all-time high in the city at C$675.2 million, up 15 per cent from the previous high of C$586.7 million in 2007. The average price of homes sold also increased to C$240,104, up 38 per cent from the previous record of C$173,568 in 2007. Gord Archibald, executive officer of the Association of Regina Realtors, said that Saskatchewan is predicted to lead the country in growth for 2009 and 2010, which will attract new people to the city, leading to a demand in housing.

The Canadian Press - Port of Montreal expects strong 2009 (5 January 2009) The Port of Montreal expects to be among the most successful East Coast container ports in 2009 despite the recession. The port estimates containerized cargo tonnage will drop by 3.7 per cent, compared with a record 2008, but the tonnage should be 2.7 per cent higher than in 2007, which was already a historic year for the port. The Montreal port had the highest growth among North America's 10 main container ports in 2008.

The Canadian Press - Honda Canada reports record annual sales for 2008, up one per cent from 2007 (5 January 2009) Honda Canada set a new company sales record in 2008, despite a drop-off in the later months of the year. The carmaker said it sold 171,358 vehicles in Canada last year, up one per cent from 2007.

From a Reuters Canada report on this: For the year, overall Canadian auto sales were down 1.1 per cent from 2007. But both Toyota and Honda recorded record annual Canadian sales. Toyota was up 11.3 per cent for the year.

From a CBC News report on this: There were exceptions to the downward trend in December. Volkswagen sales in Canada grew by 82.5 per cent in the month. Suzuki and Subaru were up 31.6 per cent and 16 per cent, respectively.

From a Globe and Mail report on this: There were some bright spots, including a record year for Mercedes-Benz Canada and Subaru Canada, and sales of its Mini helped BMW Canada to record its 18th-consecutive annual sales increase.

680 News - All News Radio (Toronto) - Toronto could help Canadian economy (7 January 2009) 'This city's financial industry could soon be a real global player if that's what our government and citizens want,' said Philip Preville, author of the cover story in the February issue of Toronto Life magazine, The Good News about the Bad Times. 'The smart money is here in Toronto . . . .' Toronto has already moved up to 12th place on the Global Financial Centres Index overtaking big centres like Paris, San Francisco, and Dublin.

Reuters Canada on major New Brunswick wind farm starts operating (6 January 2009) TransAlta Corp said its C$170 million Kent Hills wind farm in New Brunswick has begun operating, producing up to 96 megawatts of power. TransAlta said the facility uses 32 3-megawatt wind generators to produce electricity at the site, 30 kilometres southwest of Moncton, and will produce enough power for 17,300 homes. The Calgary-based company said the Kent Hills wind farm can be further expanded to add an additional 54 megawatts of power.

The Canadian Press on federal government's extensive budget consultations (7 January 2009) The Harper government says it's going to unprecedented lengths to consult on the coming federal budget. Prime Minister Harper, his ministers and federal officials have been feverishly meeting with their provincial counterparts, opposition leaders, business leaders, aboriginal leaders, and economists, with more meetings to come before the budget is released 27 Jan. The consultations will culminate 16 Jan. when Harper is to spend the day meeting with premiers and territorial leaders. They are to discuss the budgetary measures needed to stimulate Canada's economy. The first ministers will focus particularly on the need for additional, multibillion-dollar investments in infrastructure projects. On the evening prior to the first ministers' gathering, Harper and the premiers will meet with aboriginal leaders to discuss their specific needs. 'We're going through what I think is an unprecedented consultation process, both in terms of the senior level it's occurring at, the breadth and depth of that consultation and also the speed at which it's being done,' the senior official in the Prime Minister's Office said. Harper has already met once with Liberal Leader Michael Ignatieff and the official indicated that more consultations with opposition leaders are in store. The official signalled that the government will no longer turn other matters into tests of confidence to force through its agenda. 'We're in a different situation. . . . We're in a situation where we have a global economic crisis and where the expectation of Canadians is that the government and opposition parties will put their focus on addressing the economic crisis.'

These are a few of the news reports reflecting Canada's rising invincibility from the growing Yogic Flying groups across Canada and the Invincible America Assembly at Maharishi University of Management and Maharishi Vedic City, USA.

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